The benchmark indices rallied more than 1 percent on July 17, but market breadth remained in favour of the bears. About 1,906 shares declined, compared with 1,088 advancing shares on the NSE. The market is likely to consolidate with range-bound trading after Friday's breakout and sharp rally. Below are some short-term trading ideas to consider:

Rajesh Palviya, Senior Vice President Research (Head of Research) at Axis Securities

India Glycols | CMP: Rs 1,159.3

India Glycols is in a strong uptrend, forming a series of higher tops and higher bottoms, indicating sustained momentum. The huge rise in volumes over the past couple of weeks signifies increased participation. The weekly Bollinger Band buy signal indicates strengthening momentum. The daily, weekly, and monthly Relative Strength Index (RSI) is in favourable territory, indicating rising strength across all time frames.

The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also inching higher along with the price, reaffirming the bullish sentiment. Investors should consider buying, holding, and accumulating this stock.

Strategy: Buy

Target: Rs 1,260, Rs 1,340

Stop-Loss: Rs 1,100

Exide Industries | CMP: Rs 435.2

On the weekly chart, Exide Industries has witnessed a "V"-shaped recovery and has decisively surpassed the multiple-resistance level of Rs 425 on a closing basis. Rising volumes over the past couple of months indicate increased participation.

The daily, weekly, and monthly RSI is in favourable territory, indicating rising strength across all time frames. The stock is well placed above its 20-, 50-, 100-, and 200-day SMAs. These averages are also inching higher along with the price, reaffirming the bullish sentiment. Investors should consider buying, holding, and accumulating this stock.

Strategy: Buy

Target: Rs 450, Rs 465

Stop-Loss: Rs 420

SBI Cards and Payment Services | CMP: Rs 654.7

On the daily and weekly charts, SBI Card has confirmed a short-term trend reversal by forming higher tops and higher bottoms. Rising volumes over the past three to four sessions reaffirm this reversal and indicate increased participation.

The stock is well placed above its 20- and 50-day SMAs, reaffirming the bullish sentiment. The daily and weekly RSI is in positive territory, indicating strengthening momentum. The daily Bollinger Band buy signal also points to increased momentum. Investors should consider buying, holding, and accumulating this stock.

Strategy: Buy

Target: Rs 680, Rs 700

Stop-Loss: Rs 635

Jatin Gedia, VP - Technical Research at Teji Mandi Investment Technologies

Bharat Forge | CMP: Rs 2,190.5

Bharat Forge has witnessed a price-volume breakout from a symmetrical triangle pattern on the daily chart. The breakout suggests the resumption of the primary uptrend after a base formation near the 20-day moving average.

Strategy: Buy

Target: Rs 2,332

Stop-Loss: Rs 2,165

Dalmia Bharat | CMP: Rs 1,823.2

Dalmia Bharat has broken out of an inverted Head and Shoulders pattern, suggesting a trend reversal. It successfully retested the neckline breakout and formed a Doji with a lower shadow, indicating buying interest at the Rs 1,800 level. The MACD has registered a positive crossover and remains above the zero line, indicating a buy signal along with strong momentum.

Strategy: Buy

Target: Rs 1,932

Stop-Loss: Rs 1,790

Hindustan Aeronautics | CMP: Rs 4,500.7

Hindustan Aeronautics has formed an ascending triangle pattern after a five-wave move from Rs 4,160 to Rs 4,535. Triangles are trend continuation patterns, and we anticipate a breakout. The MACD has registered a positive crossover, indicating a buy signal.

Strategy: Buy

Target: Rs 4,660

Stop-Loss: Rs 4,430

Hitesh Rathi, Technical Analyst (Equity & Derivatives) at Angel One

PTC Industries | CMP: Rs 17,941

After witnessing a rejection at its overhead channel resistance following a stupendous rally of nearly Rs 3,000 in just two trading sessions, the technical structure of PTC Industries appears to be turning constructive once again. The stock has formed a Double Bottom pattern near a crucial bullish gap support and is on the verge of a breakout above the Rs 18,150 mark on the daily chart.

The 14-day Smoothed RSI has triggered a bullish crossover while simultaneously breaking above its trendline resistance. A similar picture is evident on the Point & Figure charts, where the stock has formed a Bearish Pattern Reversal. Collectively, these developments suggest that the stock is well positioned for a potential trend reversal. Buying is recommended around Rs 17,940-17,900.

Strategy: Buy

Target: Rs 19,000, Rs 19,200

Stop-Loss: Rs 16,989

Bandhan Bank | CMP: Rs 213.25

Bandhan Bank appears to have formed a bullish Double Bottom pattern on the daily chart after finding support near its 50-day DEMA. Although the stock has witnessed a minor pullback after encountering resistance at an overhead trendline, the correction has been accompanied by relatively subdued volumes, suggesting an absence of meaningful supply.

The Point & Figure charts further reinforce the bullish outlook. On the daily 1% × 3 Point & Figure chart, the stock has formed a Bullish Bear Trap after taking support near its 10-column moving average. Adding to this, the daily 0.25% × 3 Point & Figure chart has triggered a follow-through Double Top Buy.

With multiple bullish formations aligned across charting methodologies, the stock appears well positioned to witness higher levels over the near term. Hence, buying is recommended around Rs 213-212.

Strategy: Buy

Target: Rs 235, Rs 240

Stop-Loss: Rs 195

Aptus Value Housing Finance India | CMP: Rs 306.85

Aptus Value Housing Finance has triggered an Inverse Head & Shoulders breakout on both the daily and weekly charts. Reinforcing this bullish setup is the golden crossover of the 20-day DEMA above the 200-day SMA, highlighting the emergence of strong positive momentum and a favourable long-term trend.

Momentum indicators are also aligned with the bullish view. The 14-day Smoothed RSI has triggered a bullish crossover and continues to hover in positive territory, indicating strengthening buying momentum.

The Point & Figure charts further validate the constructive outlook. On the daily 0.25% × 3 Point & Figure chart, the stock has formed a Bullish Bear Trap, followed by a follow-through Double Top Buy, suggesting a decisive shift in control from sellers to buyers. Collectively, these technical developments point towards a strong bullish setup. Hence, buying is recommended around Rs 306-304.

Strategy: Buy

Target: Rs 346, Rs 350

Stop-Loss: Rs 277